Many small businesses make the big mistake of trying to do everything by selling lots of products and trying to appeal to every type of audience. Identifying a niche something that all new small businesses should do. A niche is a specific, focused part of the market that can be easily targeted. It means being a specialist in providing products which focus on specific client group’s needs, which isn’t or can’t be addressed in detail by bigger businesses selling different ranges of products to all different types of audiences.
Your niche and target market are completely different so it is important to know the difference. A target market is a specific group of people you are targeting your products towards e.g. wedding brides whereas your niche is something you specialise in which you are offering to your target market. e.g silk wedding dresses.
Small businesses entering into a market or already operating in one will find trying to be a mainstream provider, very difficult and almost impossible. Having a niche makes things much more easy to do, you can easily find your target audience, you know where they are, what kind of things they do and how is the best way to reach them. Targeting brides? Market at wedding events or target engaged couples on Facebook within your town or city. That’s more achievable and you will get better results than for example being an online clothing store and trying to reach everybody with jumpers, trousers, hats etc.
Understanding your niche is critical to marketing your business effectively online. Online visibility for your brand is much more achievable with a niche. With the nearly-unlimited advertising budgets of big brands and corporations, the possibility of appearing in search results for popular keywords and phrases is next to zero. You can target keywords and phrases that don’t get searched as regularly as others. Doing this through Social Media, SEO and Adwords will give you a great chance of appearing in the search engine. Targeting a niche can result in an increase in sales because people searching for products you sell have narrowed down their interest to a specific item and have an intent to buy. Niche marketing will help you attract the ‘right people’ easier making your marketing more effective.
To new businesses or existing businesses looking to narrow down their focus in the hope of increasing their sales, finding a niche is crucial. Trying to please everyone is a bad mistake to make and ultimately can hinder success. To see how we can help you with marketing online to a niche audience to grow your business, visit us online today and book a consultation with us.